343 Norfolk AveVirginia BeachVA23451
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Virginia Beach at 343 Norfolk Ave, Virginia Beach, VA, 23451 priced at $349,000 converts $2,194/mo rent into $108/mo cash flow after a $1,708/mo obligation. Total monthly income equals $2,194/mo, and annual cash flow totals $1,295/yr on $115,694 invested. Return on cash invested prints 21.03% in year one, and rental yield reads 7.54% against a $349,000 entry. Equity gained on principal adds $2,252/yr, while 5% annual appreciation compiles into $96,422 by year five. Five-year ROI reaches 108.57% and total cumulative return in cash sums $125,604. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,194/mo property income covering a $1,708/mo payment, not borrower’s personal income.
Condo
Built in 1985
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 23451, Virginia Beach, VA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,668 (100%) |
| Owner Occupied HU | 11,149 (43.4%) |
| Renter Occupied HU | 10,477 (40.8%) |
| Vacant Housing Units | 4,042 (15.7%) |
| Median Home Value | $687,053 |
| Average Home Value | $816,102 |
Housing Distribution
Address Breakdown
Residential
24,175
Single Family
18,609
Multi-Family
5,566
Businesses
1,835
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: John Conard • Redfin Corporation
Mls Name: REIN Inc.
Mls ID: #10615282